Adani Group pauses talks with Israel’s Tower Semiconductor on $10 billion chip project: Report
New Delhi: The Adani Group has reportedly paused its discussions with Israel’s Tower Semiconductor for a proposed $10 billion chip project, citing concerns over the project's strategic and commercial viability.
According to a Reuters report, the decision to pause talks was made after Adani Group’s internal assessment flagged uncertainty about how much demand, particularly in India, the business can generate.
"It was more of a strategic decision. Adani evaluated it and decided, let's wait," news agency Reuters quoted its source as saying.
Another source revealed that the Adani Group was not satisfied with the amount of financial contribution Tower was willing to make into the partnership. Tower was to provide technological expertise in the deal, but "Adani wanted Tower to have more skin in the game" in financial terms, the source added.
The semiconductor facility, announced in Maharashtra last September, was envisioned to produce 80,000 wafers per month and generate approximately 5,000 jobs.
The report further noted that Adani’s rethinking of the plans could be another potential blow to Indian Prime Minister Narendra Modi’s "Make in India" initiative aimed at promoting the semiconductor industry.
Meanwhile, India still lacks an operational chipmaking facility. A proposed $19.5 billion joint venture between Indian conglomerate Vedanta and Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, was called off in July 2023 due to concerns from the central government over rising project costs and delays in incentive approvals.
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J-K: Rahul Gandhi to sponsor education of 22 children who lost their parents in Pak shelling
Rajouri/Jammu (PTI): Senior Congress leader Rahul Gandhi will sponsor the education of 22 children who lost either one or both parents in the Pakistani shelling along the Line of Control (LoC) in the Poonch district of Jammu and Kashmir during Operation Sindoor, a party leader has said.
Pradesh Congress Committee president Tariq Hameed Karra also refuted any differences with the pre-poll alliance partner National Conference (NC) but said his party is waiting for formation of coordination committee with the ruling party for the past nine months.
"A lot of civilian casualties and damage to properties took place in Poonch and Rajouri (between May 7 and 10) in Pakistani shelling. Rahul Gandhi visited Poonch in the aftermath of the devastating shelling and visited the bereaved families. He asked us to prepare a list of school-going children who lost one or both parents, especially the breadwinners, and accordingly we submitted the list to him," Karra, who reached Rajouri on a three-day tour of the region, told reporters late Monday.
He said the party has a list of 22 such children in the Poonch district alone, and more such children might be included at the end of the three-day visit.
Poonch district alone accounted for 13 civilian deaths among 28 fatalities in the Pakistani shelling and drone attacks in Jammu and Kashmir after the Indian armed forces carried out missile strikes on terror infrastructure across the border under Operation Sindoor in May in retaliation to the April 22 Pahalgam terror attack that left 26 persons dead.
Karra said he is visiting Poonch on Tuesday to handover the financial aid sent by the leader of opposition for the affected children for their education.
"This is an initiative aimed at extending a helping hand to the children so that their studies are not impacted," he said.
